Thanks to Kim Dales for providing us with this neighborhood real estate activity monthly report. Kim can be reached at 206.235.777 or kodales@Windermere.com.
December 2014 and End of Year Real Estate Recap
Happy New Year to All My Laurelhurst Neighbors!
As most of you are aware 2014 was very similar to 2013, and by that I mean very low inventory but lots of qualified ready and willing buyers, and many with cash. As of ;ast week, there were only 4 active listings in Laurelhurst: 2 are waterfront, 1 has been on the market for over a year, and 1 is not within the Beach Club boundaries. That is it.
In comparing sold properties from December 2013 to December 2014 we had 50% less closings. This is an indication that sellers are holding back because they are struggling with where to move if they are staying in Seattle due to lack of inventory city wide, or are assuming the market will continue to go up, something no one can predict.
Last December I made 3 predictions about our market in Laurelhurst.
1. Housing prices would increase possibly in the high single digit range. This prediction came true.
2. Interest rates increase approximately 1%. I was wrong, as of yesterday a 30 year fixed
mortgage is 3.875%
3. And last but not least, market experts predicted last year that the first of the year would
be an optimal time to list your home. This recommendation still holds true as there are an
abundance of buyers with nothing to buy.
NEW LISTINGS
no new listings
PENDING INSPECTION
Price Quantity DOM
$1,250,000 - $1,499,999 1 112
Total: 1
Price: $1,399,000
PENDING
Price Quantity DOM
$1,500,000 thru $1,749,999 1 23
Total: 1
Price: $1,695,000
SOLD
Price Quantity DOM
$550,000 - $599,999 1 35
$600,000 - $649,999 1 3
$900,000 - $949,999 1 7
$1,250,000 - $1,499,999 1 72
Total: 4
Average Price:$900,250
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